The Závod SNP aluminium works in the central Slovak town of Žiar nad Hronom has announced 578 redundancies for August. This is the second round of layoffs this year at the plant, which was bought by financial speculators Penta Group last November.
The vice-chairman of the board of directors and Penta Group representative Jozef Špirko said that the cutbacks were necessary because the outgoings for the plant were too high given the current level of orders.
Currently, 2,037 people work at Závod SNP.
Compiled by Conrad Toft from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
27. Jun 2003 at 12:19